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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Hong Kong stocks rally 5.6 percent AP - Thursday, December 11 HONG KONG - Hong Kong stocks rallied 5.6 percent Wednesday as investors anticipated new measures to spur China's economy from a high-level economic meeting in Beijing. The blue chip Hang Seng index soared 824.52 points to 15,577.74, after losing 1.9 percent on Tuesday. Investors snapped up Chinese stocks as they expected the country's top planners would emerge with additional measures to spur economic growth after a high-level economic planning meeting concluded Wednesday. China announced a 4 trillion yuan ($586 billion) package last month to shield the nation from a global slowdown with spending on construction and other projects. Analysts said the global financial crisis has forced Chinese leaders to reverse fiscal tightening measures which were introduced earlier in the year to curb rapid growth and rising inflation. "Because of the global economic downturn, China has no choice but to change its policy completely to take a more stimulus-oriented approach," said Francis Lun, general manager of Fulbright Securities Ltd. Among the gainers, China-based computer firm Lenovo jumped 26.6 percent to 2.19 Hong Kong dollars on news that the world's fourth-biggest PC maker is interested in acquiring a Brazilian counterpart. Air China Ltd. surged 22.1 percent to HK$2.60 after China called on its state-owned airlines to cancel or defer new aircraft purchases amid the global economic turmoil. Chinese insurer Ping An Insurance was 5.9 percent higher at HK$37.80 and rival China Life rose 5.6 percent at HK$24.40. ICBC, China's largest bank, climbed 5.9 percent to HK$4.46 and China Construction Bank advanced 5.6 percent at HK$4.88. Property developers also jumped on interest rate cut hopes. Sino Land rose 17 percent to HK$7.58. Cheung Kong (Holdings) Ltd. added 9.1 percent to HK$80.70 and Sun Hung Kai Property gained 8.1 percent to HK$63.05. ___ On the Net: Stock Exchange of Hong Kong: http://www.hkex.com.hk Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy TOPWRAP 5-China to spur slowing economy, European data bleakReuters - 50 minutes ago TSE chief urges Japan to use public money for banksAFP - 1 hour 32 minutes ago China's exports fall for first time in 7 yearsAP - 1 hour 35 minutes ago WRAPUP 1-Deflation risks in China, Japan as demand slumpsReuters - Thursday, December 11 Related Articles: Business Indian bond yields fall as inflation seen downReuters - 31 minutes ago FOREX-Yen falls, US auto bailout hopes lift sentimentReuters - 35 minutes ago Resolution 15 pct above IPO price in London debutReuters - 39 minutes ago S.Lanka c.bank lets rupee dip to a second dayReuters - 40 minutes ago Daimler Trucks still interested in Russia's KamazAP - 49 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed New recession warnings hit leading economies Muslim pilgrims stone Satan at the hajj Dow Chemical to cut 5,000 jobs, close 20 facilities Stocks take flight on prospects for anti-recession moves Military jet crashes in California suburb, three dead View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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